Bloomberg – The Cumulus Energy Fund gained 46 percent this year through July, beating the returns of 10 of its peers after anticipating rainy weather in Scandinavia would increase hydropower supplies and lower prices.
The $41 million fund’s appreciation surpassed profits of 1.2 percent or less during the same period at similar hedge funds in Europe’s power, natural gas, coal and emissions markets surveyed by Bloomberg. Profits eluded managers because swings in energy prices are about half of last year’s changes, reducing trading opportunities.
